The European technology sector saw a record number of mergers and acquisitions announced in the third quarter of this year, outstripping the number of M&A bids during the peak of the telecoms bubble in the first quarter of 2000.

Regent Associates' European Technology Acquisition Review said 820 acquisitions were announced from July to September this year, more than the 781 bids in the first three months of 2000. Peter Rowell, chairman of Regent Associates, said: "The recent period is the latest in an unbroken run of 10 quarters, where the number of deals has just been going up and up. Each time we think it cannot go any higher, it does."